Allspring Global Investments Holdings LLC Sells 11,544 Shares of CNO Financial Group, Inc. $CNO

Allspring Global Investments Holdings LLC trimmed its position in CNO Financial Group, Inc. (NYSE:CNO) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,142,010 shares of the financial services provider’s stock after selling 11,544 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CNO Financial Group were worth $46,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in CNO Financial Group during the 4th quarter worth approximately $18,297,000. Jain Global LLC bought a new position in CNO Financial Group during the fourth quarter valued at $17,996,000. Millennium Management LLC raised its position in shares of CNO Financial Group by 190.3% during the 3rd quarter. Millennium Management LLC now owns 579,656 shares of the financial services provider’s stock valued at $22,925,000 after buying an additional 379,984 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of CNO Financial Group by 35.6% in the 4th quarter. AQR Capital Management LLC now owns 1,218,033 shares of the financial services provider’s stock valued at $51,730,000 after purchasing an additional 319,795 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of CNO Financial Group by 20.5% in the 4th quarter. Morgan Stanley now owns 1,870,982 shares of the financial services provider’s stock worth $79,461,000 after purchasing an additional 317,690 shares during the period. 95.43% of the stock is owned by hedge funds and other institutional investors.

CNO Financial Group Price Performance

Shares of CNO stock opened at $53.56 on Friday. The company has a market capitalization of $5.00 billion, a P/E ratio of 21.51 and a beta of 0.81. The company’s 50-day simple moving average is $49.69 and its two-hundred day simple moving average is $44.88. CNO Financial Group, Inc. has a one year low of $35.24 and a one year high of $54.09. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.17 and a quick ratio of 0.17.

CNO Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 10th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.3%. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, June 10th. CNO Financial Group’s payout ratio is currently 28.92%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNO. Weiss Ratings reissued a “buy (b)” rating on shares of CNO Financial Group in a research report on Monday, April 20th. Keefe, Bruyette & Woods boosted their price objective on shares of CNO Financial Group from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Wall Street Zen downgraded shares of CNO Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Evercore set a $48.00 target price on shares of CNO Financial Group and gave the stock an “in-line” rating in a report on Monday, June 1st. Finally, Jefferies Financial Group cut shares of CNO Financial Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $55.00 in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.50.

Insider Activity at CNO Financial Group

In related news, CMO Rocco F. Tarasi III sold 5,750 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $287,500.00. Following the completion of the sale, the chief marketing officer directly owned 79,191 shares of the company’s stock, valued at $3,959,550. This represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary C. Bhojwani sold 86,048 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.48, for a total transaction of $4,429,751.04. Following the transaction, the chief executive officer owned 174,264 shares in the company, valued at approximately $8,971,110.72. The trade was a 33.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 95,106 shares of company stock worth $4,879,343. 3.44% of the stock is owned by insiders.

CNO Financial Group Profile

CNO Financial Group is an Indiana‐based holding company that offers a range of insurance and retirement solutions through its operating subsidiaries. Its primary business activities include life insurance, annuities, and supplemental health insurance products designed to help individuals plan for retirement and manage health‐related expenses. The company serves middle‐income Americans, with particular emphasis on senior customers seeking guaranteed coverage and reliable income streams.

Originally founded as Conseco in 1979, the company underwent a financial restructuring and rebranded as CNO Financial Group in 2010.